Rand on the ropes as dollar continues strong run

Johannesburg -The rand was softer against the dollar on Monday and looked set to weaken to a 13-year low as data showing the US economy remained on the path to monetary tightening continued to weigh on the increasingly fragile currency.

By 06:05 GMT the rand had weakened 0.2% to R12.0590 per dollar after hitting its weakest since 2002 on Friday in the wake of data showing the US unemployment rate had declined to its lowest in more than six years.

The positive data from the world's number one economy raised market expectations of a US Federal Reserve rate hike from near-zero levels by the end of 2015, driving renewed dollar-buying and a fall in bond yields there.